WEDNESDAY, FEBRUARY 24, 1993
FUNDS TO SUPPORT RESEARCH AND DEVELOPMENT PROJECTS
THE INDUSTRY DEPARTMENT TODAY (WEDNESDAY) ANNOUNCED THE LAUNCHING OF A $200 MILLION APPLIED RESEARCH AND DEVELOPMENT (R&D) SCHEME AIMED AT ENCOURAGING WORTHWHILE LOCAL APPLIED R&D PROJECTS.
SPEAKING AT
A PRESS CONFERENCE, THE DIRECTOR-GENERAL OF INDUSTRY, MR TH BARMA, EXPLAINED THAT THE OBJECTIVE OF THE SCHEME WAS
THE TO INCREASE
VOLUME OF APPLIED R&D ACTIVITY IN HONG KONG BY PROVIDING FUNDING SUPPORT AS A CATALYST.
"IT IS HOPED THAT THIS IN TURN WILL ENHANCE THE TECHNOLOGICAL
HE SAID, CAPABILITY AND THE COMPETITIVENESS OF OUR LOCAL INDUSTRIES,
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MR BARMA ADDED THAT THE SCHEME WAS AN IMPORTANT INITIATIVE THE INDUSTRY AND TECHNOLOGY DEVELOPMENT COUNCIL, GOVERNMENT'S PRINCIPAL ADVISORY BODY ON INDUSTRIAL AND TECHNOLOGY MATTERS.
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**THE COUNCIL WILL BE OVERSEEING THE PROGRESS OF THE SCHEME FUTURE, HE SAID.
IN
MR BARMA ALSO ANNOUNCED THE SETTING UP OF THE HONG KONG APPLIED R&D FUND COMPANY LIMITED TO ADMINISTER THE SCHEME.
MR CHENG HON-KWAN, DIRECTOR OF H K CHENG & PARTNERS LTD CONSULTING ENGINEERS, HAS BEEN APPOINTED CHAIRMAN OF THE COMPANY'S BOARD OF DIRECTORS WHILE DR JAMES KUNG, CHAIRMAN AND CHIEF MANAGER CHEKIANG FIRST BANK LTD, HAS BEEN APPOINTED DEPUTY CHAIRMAN.
OTHER DIRECTORS OF THE COMPANY ARE:
MR TH BARMA, DIRECTOR-GENERAL OF INDUSTRY;
DR JAMES FOK, BRANCH DIRECTOR (DESIGN AND
AUTOMATION), HONG KONG PRODUCTIVITY COUNCIL;
DR RAYMOND HO, DIRECTOR OF MAUNSELL CONSULTANTS ASIA LTD; MR ANDREW K Y LEUNG, MANAGING DIRECTOR OF SUN
HING KNITTING FACTORY LTD;
MR ANDREW LIAO, QUEEN'S COUNSEL;
DR YORK LIAO, EXECUTIVE DIRECTOR OF VARITRONIX LTD;
MR ALEXANDER MAK, PRINCIPAL OF ERNST & YOUNG;
MR MARTIN Y TANG, MANAGING DIRECTOR (HK) AND
REGIONAL MANAGER (S E ASIA) OF SPENCER STUART EXECUTIVE SEARCH CONSULTANTS;
MR SIMON WONG, SENIOR VICE-PRESIDENT OF
TRANSPAC CAPITAL LTD; AND
MR WILFRED YEUNG, MANAGING DIRECTOR OF ACE
MOLD CO LTD.
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ALSO SPEAKING AT THE PRESS CONFERENCE, MR CHENG SAID ALL COMPANIES INCORPORATED UNDER THE COMPANIES ORDINANCE OR STATUTORY BODIES SET UP UNDER THE LAWS OF HONG KONG WHICH UNDERTOOK R&D LOCALLY WERE ELIGIBLE FOR THE SCHEME.
"IN ASSESSING PROJECT PROPOSALS, THE HONG KONG APPLIED R&D FUND OMPANY LIMITED WILL CONSIDER THEIR VIABILITY, TECHNICAL FEASIBILITY ND COMMERCIAL POTENTIAL.
/"AP"ROVE" PUPUS